San Francisco, CA – April 21, 2006 – Three Rings Design, Inc., a premier developer of multi-player online casual games, announced today that it will give away a 1787 Spanish Gold Escudo Doubloon, rescued from pirate loot, to the player that purchases the five millionth doubloon for their popular online game “Puzzle Pirates.”

The company expects to reach the five millionth sale mark later this week and will announce the winner shortly after. In light of some strong market trends, the company recently shifted its strategy from subscription pricing to a “free-to play” model that includes the option of purchasing micro currency. Players can then spend their micro-currency on in game upgrades and additional content.

The sale of five million doubloons is an important milestone for the company and points to the broad acceptance of that model. In fact, the company is launching a new game “Bang! Howdy,” a multiplayer online tactical strategy game for the PC which uses the same payment structure and online distribution model.

“Three Rings has led the charge for micro-currency in the US market, and the success of ‘Puzzle Pirates’ doubloons has convinced us that it represents the future for online entertainment,” said Daniel James, Three Rings’ CEO. “We were inspired by the Korean market, where ‘free to play, pay for item’ is the ubiquitous business model for online games. As the US market matures to meet Korea, we intend to keep leading the way.”

The company is riding some powerful trends in digital entertainment – the popularity of casual games, a move towards the massively multiplayer, and the ascent of digital downloads. With the shift to “freemium” pricing, the company recently became cash-flow positive and funds the distribution and development of its games internally. To date, over 1.5mm individuals have downloaded Puzzle Pirates.